Key facts
- Saudi Arabia is proposing a multinational maritime defense coalition.
- The coalition aims to protect shipping in the Red Sea and Bab el-Mandeb Strait.
- Kuwait's Chief of Staff, General Khaled Al-Shuraian, met with coalition representatives.
- The meeting focused on ensuring freedom of navigation.
- 43 countries and the EU attended a meeting to discuss the coalition.
- Fourteen countries, including Turkey, Pakistan, Egypt, Sudan, and Djibouti, support the coalition.
- Oil prices fell more than 1% following the announcement.
Saudi Arabia has announced plans to form a multinational maritime defense coalition to safeguard international shipping and energy supply routes in the Red Sea and Bab el-Mandeb Strait, following disruptions caused by Houthi attacks. The initiative was discussed at an international meeting attended by representatives from 43 countries and the European Union, with Saudi Arabia set to lead the coalition from its headquarters. Kuwait's Chief of Staff, General Khaled Al-Shuraian, met with coalition representatives in Saudi Arabia to discuss ensuring freedom of navigation in the strategically vital Bab el-Mandeb strait. This meeting occurred amidst broader efforts to establish the coalition, which aims to bolster maritime security and protect global trade routes. Fourteen countries, including Turkey, Pakistan, Egypt, Sudan, and Djibouti, have issued a joint statement supporting the proposed coalition. Oil prices fell more than 1% in volatile trade as investors considered the proposed plans.